Canadian Solar Gets $122M Bank Of China Project Loan

Law360, New York (May 3, 2012, 2:05 PM EDT) -- Solar module producer Canadian Solar Inc. has landed a CA$120 million (US$121.6 million) loan from units of Bank of China Ltd. to finance the construction of multiple Ontario power plants, the solar company announced Thursday.

The loan will go toward construction costs for Canadian Solar-owned projects set to be built in each of the next three years, beginning in 2012, according to a statement Canadian Solar issued Thursday.

The company and Bank of China's New York and Toronto-based units, which will furnish the loan, did not...